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The question of who owns intangible property has been at the forefront of many transfer pricing controversies. Aydin Hayri and Darcy Alamuddin present a framework for identifying the economic or beneficial owner of intangible property, which from a transfer pricing perspective can be just as important as legal ownership, and illustrates its use in the case study of a hypothetical life sciences company.

Cloud computing is not only revolutionising the way companies conduct business, it is also raising questions as to how cloud-based businesses should be taxed. Ron Saake and Mandana Malone provide clarity on the issue.

Dear readers,

Tony Abbott, Prime Minister of Australia, gave an address today at the 44th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, setting out Australia’s priorities for its G20 presidency.

Margaret Hodge, UK member of parliament (MP) and chairwoman of the parliamentary Public Accounts Committee (PAC) has attacked HM Revenue and Customs (HMRC) for not doing enough to tackle corporate and personal tax avoidance.

The closing date for entries for the European Tax Awards 2015 has now passed.

Japan’s 2015 tax reform proposal may not be delivered until January 2015 because of Prime Minister Shinzo Abe’s snap elections on December 14. However, tax professionals are confident that the delay of a two percentage point consumption tax increase will not impact other expected changes to Japan’s tax regime.

The Forum on Tax Administration (FTA) met recently to produce an outline for a strategy, and new forum, to improve mutual agreement procedures (MAPs).

The Irish Revenue authority (Revenue) has published a revised Code of Practice for Revenue Audit and Other Compliance Interventions (the Revised Code), which took effect from August 14 2014. It will be a “live” document, meaning it will remain under permanent review and be updated to reflect changes in legislation and new practices.

More than half the financial institutions polled for a survey on FATCA [Foreign Account Tax Compliance Act] reporting have said they will spend more than originally planned to comply with the law.